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-3- <br />SECTION III. The Common Council hereby accepts thereport recommendation <br />of the Department of Economic Development, d the Human Resources and Economic <br />Development Committee's favorable recommends ion, that the area herein described <br />be designated as Economic Revitalization Area for purposes: -of personal property <br />tax abatement and hereby makes such a designation. <br />SECTION IV. The Common Council determines that such designation is for personal <br />property tax abatement only and shall be limited to two (2) calendar years from <br />the date of the adoption of this Resolution by the Common Council. <br />SECTION V. The Common Council hereby determines that the property owner is <br />qualified for and is granted property tax dedcution for a period of five (5) <br />years. <br />SECTION VI. The Common Council directs the City Clerk to cause notice of the <br />adoption of this Declaratory Resolution to be published pursuant to Indiana <br />Code 5 -3 -1, said publication providing notice of the public hearing before the <br />Common Council on said delcaration. <br />SECTION VII. This Resolution shall be in full force and effect from and after <br />its adoption by the Common Council and approval by the Mayor. <br />MEESENTE6 oC- 07 9 - 9 `/ <br />NOT APPROVED <br />ADOPTED a -4)8 - 9' S/ <br />6L <br />Member of the Common Council <br />Filed In Clerk', <br />FEE ^ ° _q4 <br />IRENE ®AM&IU." <br />CITY CLERK, so. 8:.'wip, 1N. <br />